In days past, applying for an Initial Public Offering (IPO) used to be a chore. Investors had no choice but to visit the designated bank, followed by standing in endless queues alongside many other applicants. The application itself involved bulky paperwork and even the smallest error, such as a misplaced digit or missing signature, could result in rejection of application. Once submitted, the paperwork went through verification by bank staff, creating space for additional manual work and longer timeframes. It was a reminder of how much time and energy could be saved if there was a more efficient way of handling this process.
The introduction of MeroShare, an online portal developed by CDS and Clearing Limited, marked a turning point in the way investors participated in IPOs.The need to physically visit banks was eliminated, and investors could submit their applications directly from the comfort of their homes, ushering in a new era of digital convenience in Nepal’s financial sector. While MeroShare greatly simplified the IPO process, it was not without its challenges. Users still had to log in separately, remember multiple credentials, and occasionally face slowdowns or delays during high-traffic periods, especially when popular IPOs were launched.
Citizens Bank International Limited, in collaboration with F1Soft International, has launched My ASBA, in its mobile banking app. With My ASBA, customers can now apply for IPOs directly from their mobile banking app. This is a first-of-its-kind feature where customers no longer need to toggle between apps or visit bank counters. Everything they need is already available within a familiar, readily accessible mobile banking app.
Customers can now apply anytime, anywhere, without standing in queues or dealing with paperwork, all with just a few taps using a mobile banking app. Previously, investors had to physically visit bank branches to obtain or update their CRN numbers. Now, this entire process can be completed digitally within the app, saving both time and effort. By integrating banking and investment services in one place, the app provides a seamless experience where customers can manage both their finances and investments.
The launch of My ASBA on mobile banking demonstrates how financial technology can remove barriers for investors and open doors to greater participation in Nepal’s capital market. For a country where IPOs are hugely popular among investors, this solution provides unmatched accessibility. What once required time, paperwork, and patience has now been replaced by speed, simplicity, and trust.
